Fiat CEO Sergio Marchionne lifted his outlook for the European new-car market

Article by Christian A., on August 26, 2010

Fiat S.p.A. CEO Sergio Marchionne revised his outlook for both the European new-car market this year and for Fiat's global sales. In April, Fiat had forecast a 15% drop in total market sales in 27 EU markets plus Iceland, Norway and Switzerland. But now, Marchionne said that Fiat expects a fall of about 10% to 13.25 million. Industry association ACEA said that in 2009, European sales had dropped 1.6% to 14.72 million.

In a conference call last Wednesday, Marchionne told analysts that the carmaker is "seeing light at the end of the tunnel." He added that commercial vehicles are recovering. Marchionne's new prediction is in line with other major European automakers, which had predicted a sales slide of between 7% and 10% in 2010.

Buoyed by a stronger than expected European market, Fiat now anticipates being able to sell over 2 million vehicles globally this year. Last year, Fiat sold 2.15 million units worldwide. For 2010, it had previously predicted 1.93 million sales. With regards to the Brazilian market, Fiat expects a 2% growth this year, after posting a 3.2% increase in sales for the first half with 1.2 million units.

Fiat hopes to keep its no. 1 position in Brazil, where it holds a 23.3% market share in passenger car and light commercial vehicle sales. For the first six months of the year, Fiat's global sales increased by 2.7% to 1.09 million units. Passenger car sales decreased by 2.5% to 891,000 units, while light commercial vehicle volume climbed 36.2% to 194,000. [via autonews]

If you liked the article, share on:

Comments

Recommended

Mitsubishi finally introduces the new Xpander MPV at the 2017 Indonesia International Auto Show in Jakarta Indonesia. Replacing the previous Expander, the new multipurpose vehicle will be mostly sold at...
by - August 16, 2017
Infiniti revealed its retro Prototype 9 race car before its slated debut at 2017 Pebble Beach Concours d'Elegance next week. In a recent press release, the company not only disclosed...
by - August 16, 2017
In the United States, not many automakers offer crossovers with a diesel engine option, but Chevrolet does, with their 2018 Equinox. Those who opt for this engine will get some...
by - August 16, 2017
Here are some things that potential buyers of the Ford F-150 and Ford Expedition could look forward to for the 2018 model year. The 2018 models of the F-150 pickup...
by - August 15, 2017
We first saw the McLaren 720S earlier this year when it made its debut at the Geneva Motor Show, and we all agree that it is a beautiful car. But...
by - August 15, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries